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What is a Merchant of Record?

As merchant of record, we provide seamless checkout, commerce platform and payment to our merchant. But, Mayar is not a typical global merchant of record who also manage global sales tax for their merchant. Therefore we do not (not-yet) include sales tax processing in our platform, our merchants must process the sales tax reporting and payment by themselves.

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Payment Service Providers vs. Merchants of Record

Payment Service Providers (PSPs) Xendit, Doku and other Payment Service Providers (PSPs) offer an accessible and convenient abstraction to faciliate transactions on top of underlying credit card network, banks and e-wallets.
  • ✅ Powerful, flexibile & low-level APIs to facilitate transactions
  • ❌ Can be used to power all business- and pricing models under the sun.
  • ❌ You are responsible for all liabilities associated with transactions, e.g international taxes
  • ❌ Low-level APIs require more development even for common use cases
Merchants of Record (MoRs) Merchants of Record offer yet another layer of convenient abstraction to facilitate digital orders on top of the underlying PSPs and transactions. E.g Mayar is built on Xendit and/or Doku (+ more PSPs in the future).
  • ✅ Higher-level Dashboard, APIs & SDKs to better facilitate digital products, services & orders beyond the underlying transactions
  • ✅ No-code solution available for no-tech people
  • ✅ No API Integration option available. Ready to use, sell faster
  • ❌ Higher fees per payment